Medtronic (NYSE:MDT) Stock Price Expected to Rise, UBS Group Analyst Says

Medtronic (NYSE:MDT - Get Free Report) had its price objective boosted by analysts at UBS Group from $85.00 to $95.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the medical technology company's stock. UBS Group's target price would indicate a potential upside of 5.62% from the company's current price.

A number of other equities research analysts have also recently weighed in on the company. Wells Fargo & Company dropped their price target on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. Barclays lifted their target price on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Truist Financial lowered their target price on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $95.20.

Medtronic Price Performance

MDT stock traded up $2.01 during midday trading on Wednesday, reaching $89.95. 11,762,886 shares of the company's stock traded hands, compared to its average volume of 7,605,718. The company has a 50-day simple moving average of $86.08 and a two-hundred day simple moving average of $87.10. Medtronic has a 1-year low of $75.96 and a 1-year high of $93.08. The company has a market cap of $115.34 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 2.46 and a beta of 0.84. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $8.33 billion. On average, analysts anticipate that Medtronic will post 5.46 earnings per share for the current year.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mainstream Capital Management LLC bought a new stake in shares of Medtronic in the fourth quarter valued at about $26,000. Fortitude Family Office LLC bought a new stake in shares of Medtronic in the third quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the third quarter valued at about $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the third quarter valued at about $27,000. Finally, Stephens Consulting LLC lifted its holdings in shares of Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.